Austria
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Erste Group Bank has mandated leads for its inaugural additional tier one transaction, which will be its first issuance of capital notes since it failed to pay the coupon on legacy tier one debt at the end of 2014. -
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The Asian Development Bank and Oesterreichische Kontrollbank hit screens with dollar deals on Monday, with ADB adding more supply to a burst of dual tranche trades that included deals last week by the World Bank and the Japan Bank for International Cooperation.
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KA Finanz, the wind down entity formally known as Kommunalkredit Austria, has signalled its intention to issue covered bonds.
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Sappi Papier, the Austrian-South African paper manufacturer, sold €350m of secured notes at 4% to refinance its 2021 dollar bond, in a European high yield market that has brought forward its post-Easter pipeline of deals.
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A source on the Austrian side of negotiations concerning Heta, the State of Carinthia and the Ad Hoc Group of creditors has revealed the depth of feeling regarding a potential payout to Heta’s creditors, saying that such a payment would be “political suicide” for any politicians involved in the deal.
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A brewing crisis over guarantees made by the southern Austrian province of Carinthia has shown little sign of resolving, with creditors drawing up parallels between the state and Argentina's spectacular default.
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Sappi Papier, the Austrian-South African paper manufacturer, is seeking to issue €350m of secured notes to refinance its 2021 dollar bond, in a European high yield market that has brought forward its post-Easter pipeline of deals.
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Creditors have rejected the chance to sell to the Austrian province of Carinthia discounted bonds in Heta, the bad bank created in 2009 to dispose of the assets of Hypo Alpe Adria.
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This week the Schuldschein market completed what could be its second largest deal ever, for Aldi subsidiary Hofer, and also launched its first two green deals — in what looks like another impressive year for the market.
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The Schuldschein market has just completed what could be its second largest ever deal — for around €1.6bn — in an especially private transaction for Aldi’s Austrian subsidiary, Hofer.
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A healthy pair of benchmarks this week and strong conditions mean the euro market is wide open for a pair of supranationals to bring planned deals next week.
